Debtconsolidationcare.com - the USA consumer forum

credit card companies calls 20 plus a day

Date: Mon, 06/02/2008 - 17:58

Submitted by anonymous
on Mon, 06/02/2008 - 17:58

Posts: 202330 Credits: [Donate]

Total Replies: 3


Maybe someone in the collections business can help with this one. Why do credit card companies call everyday and some more than once a day if they get the same answer everytime? I am in a debt settlement program and since i am only a few months into the program, none of the creditors are getting paid yet. When the collection dept of the credit cards call, i always tell them the same thing....that i am doing a debt settlement program and that i can give them the name of my atty and their phone number. Luckily, they always seem to be taking the info down and are polite. But then call again later or the next day and the cycle continues. I had 9 credit cards so needless to say, i just leave my phone at home each day. They did call at work but when i asked them not to, they have been pretty good about that. My question is...why do they keep calling?


Many collection agencies use automatic dialers so that may be one reason. Did you offer the agencies you attorneys phone number or did you give it to them. If the number they are calling is a cel phone you can request that they remove that number and stop calling. Ouch, nine cards, thats a lotta calls. Are they all included in your program?

I hope you researched the settlement company before you signed a contract with them... collection agencies dont like dealing with settlement companies... agencies may only have an account for 60 days before it gets sold to another agency. So if you dont have funds available to settle your account, then the account receives no payment.
Correct me if Im wrong readers, but settlement companies dont do payments they just settle. An all or nothing situation. Ive seen folks get sued because of settlement companies not paying out. My personal experience with settlement companies... Ive never received a payment and very rarely get my calls returned.

Best of luck with your journey to being debt free! A long hard journey but very satisfying when its all over.


lrhall41

Submitted by imadebtcollector on Mon, 06/02/2008 - 18:18

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Next to spending like a drunken sailor, entering into a contract with one of these debt settlement companies is the dumbest idea on the planet. There are many of these companies that are as crooked as the illegal collection agencies. Most others....possibly excepting cccs....are simply ineffective. Many lose payments, forget to make payments on time, etc.

If you are using a debt settlement company, you better be doing the checking behind them to make sure payments are on time. If you are going to have to do that, why even pay them good money to begin with?

They are typically dumb ideas and end up showing on your credit similar to a bankruptcy (or very close to it).

GBD


lrhall41

Submitted by on Tue, 06/03/2008 - 05:46

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